A look at the day ahead in European and global markets from Tom

Westbrook

Trade took a steadier tone in the Asia session on Tuesday,

with metals prices stabilising and stocks generally recovering

from a gold-and-silver-led wipeout on ‌Monday.

Rebounds in Tokyo and Seoul were sharp and

Indian shares cheered a deal U.S. President ​Donald Trump

announced on Truth Social to lower tariffs on Indian ‍goods in

return for India quitting purchases of ⁠Russian oil.

As with ⁠other bilateral deals, there were few solid details

and none around the timing but ‌it was enough to lift ​the rupee

by more than 1%.

Australia's currency traded more than 1% higher, too, after

the central bank joined Japan ⁠as the only developed-world

countries lifting ‍interest rates.

The ​25-basis point hike was mostly expected by markets and

comes with inflation running above target and the labour market

tight. Investors ‍have ramped up bets on a follow-up hike in May,

which is priced at about 75%.

Ahead, the ECB's lending survey can help investors gauge

credit demand in Europe and earnings from Alphabet and

Amazon ( AMZN ) later in the week anchor the U.S. calendar.

Elsewhere, ​market talk ‍of a tax increase on gaming had

Chinese internet stocks wobbly, while silver and gold were

trying to find their ​footing.

Mining shares were accordingly higher in Australia, with

rare earth miners also helped by Trump announcing plans for a

strategic stockpile of critical minerals, backed by $10 billion

in seed funding from the U.S. Export-Import Bank.

Elon Musk said on Monday that SpaceX has acquired his

artificial-intelligence startup xAI in a ​record-setting deal

that unifies Musk's AI and space ambitions.

Key developments that could influence markets on Tuesday:

- ECB bank lending survey

- Fed Bowman speaks

- U.S. earnings: PayPal ( PYPL ), ‍Pfizer, Marathon

and, after market close, AMD, Amcor and

Mondelez ( MDLZ )

(Editing by Sam Holmes)